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Kenya Economy Watch
Rank: Member Joined: 1/15/2015 Posts: 681 Location: Kenya
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limanika wrote:KulaRaha wrote:limanika wrote:mikanjoroge wrote:limanika wrote:Why does govt make promises to IMF they know to realise same they would have to rely on parliament? Parliament which can decline? Cause when you have thieves in government negotiating on our behalf and money is being dangled, they will agree to any conditions. Damn the consequences. When you make promise you know you don't have 100% capacity to fulfill, that's what we call living a lie. And who, when you haven't paid rent, takes the only cash at hand and goes on holiday? That's what we're doing --- spending 10's of billions tarmacking village cattle tracks just coz people are obsessed with tarmac, yet you will strain to count 10 vehicles down that road in a whole day, building electricity infrastructure in every nook and cranny just to light homes yet people could still survive with kerosene lamps if the pending debts were paid first..the list could go on This, my fren, is the only way to steal...give the people infrastructure they dont need! And, dont give them too much credit. You don't build bypass around chalbi desert just so you can steal. This is what they're doing The money causing our troubles didn't even do the village cattle track you guys are talking about. It's a very small % of the total debt - the one babu was shouting about some time back.... And we will pay for it because we are sheep.
60% Learning, 30% synthesizing, 10% Debating
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Rank: Member Joined: 1/15/2015 Posts: 681 Location: Kenya
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So withholding tax goes up from 5% to 25%??? I hope these are baseless rumours..... 
60% Learning, 30% synthesizing, 10% Debating
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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Thitifini wrote:limanika wrote:KulaRaha wrote:limanika wrote:mikanjoroge wrote:limanika wrote:Why does govt make promises to IMF they know to realise same they would have to rely on parliament? Parliament which can decline? Cause when you have thieves in government negotiating on our behalf and money is being dangled, they will agree to any conditions. Damn the consequences. When you make promise you know you don't have 100% capacity to fulfill, that's what we call living a lie. And who, when you haven't paid rent, takes the only cash at hand and goes on holiday? That's what we're doing --- spending 10's of billions tarmacking village cattle tracks just coz people are obsessed with tarmac, yet you will strain to count 10 vehicles down that road in a whole day, building electricity infrastructure in every nook and cranny just to light homes yet people could still survive with kerosene lamps if the pending debts were paid first..the list could go on This, my fren, is the only way to steal...give the people infrastructure they dont need! And, dont give them too much credit. You don't build bypass around chalbi desert just so you can steal. This is what they're doing The money causing our troubles didn't even do the village cattle track you guys are talking about. It's a very small % of the total debt - the one babu was shouting about some time back.... And we will pay for it because we are sheep. Roads are just one example among many. But overall the elephant in the room is county govts. No economist worth his salt would have recommended the kind of devolution we have. Kibaki did'nt want it either, it was forced on him by people who wanted to devolve 'eating'. Do you know that the 300b disbursed to counties is usually borrowed money which central govt pays with interest? Then the counties spend it to pay fat salaries, foreign travel, buy goods at inflated prices, tarmarc roads that just needed to be upgraded to all weather status, etc etc. The worst is that counties that dont contribute much to GDP (Hence don't help govt repay the loan) receive the most allocation. If this cycle continues the next 5, 10 years, we are looking at a debt crises like the one below https://www.nation.co.ke...68550-3pefmu/index.html
Back to roads. During colonial times and soon after independence, there was strategy how roads were built. The first priority roads were international trunk roads. The next were roads linking provincial head quarters to the international trunk roads. Next were roads linking district headquarters and then the divisional headquarters. This is the kind of masterplan jomo left. When mo1 came in, he did NOTHING to maintain existing roads or finalize the masterplan. He only built some cattle tracks in baringo. So much so that virtually all the existing roads jomo or mzungu built were in a state of disrepair by the time he left in 02. Kibaki comes in and what did he do? He changed strategy. His main focus on Roads became facilitation of TRADE. So he re carpeted all the roads. He built the bypasses. In rural areas, he built additional roads purely for trade e.g. linking tea factories to the main roads. Enter the dynamic duo come in and what experience do they have on public finance management and how to grow economy? Zero. I dont blame them. I blame the one who brought them into the arean. So nowadays there is no strategy on roads, no masterplan. PORK or DEPORK will visit a village (probably a home coming party for CS) and the village elder requests the road leading to the village be tarmacked. The wish is granted immediately. No feasibility, no nothing. You will strain to count 10 vehicles down that road a whole day. In contrast, my estate road, used by 1000+ vehicles every day, is not tarmarked. Assuming each of my neighbors spends 30k a year to repair their suspension due to bad road, that's 30m down the drain, money that could have been used in some other productive way.
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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http://www.theeastafrica...67216-fktse8z/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties."
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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The sycophants will lie to you that devolution is the culprit, but we all know the real culprits and their projects etc.... Stay woke! Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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rwitre wrote:Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties." Dynamic duo indeed.... possunt quia posse videntur
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Rank: Elder Joined: 7/21/2010 Posts: 6,175 Location: nairobi
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maka wrote:rwitre wrote:Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties." Dynamic duo indeed.... kumira kumira "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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mlennyma wrote:maka wrote:rwitre wrote:Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties." Dynamic duo indeed.... kumira kumira Kuumia kuumia
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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obiero wrote:mlennyma wrote:maka wrote:rwitre wrote:Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties." Dynamic duo indeed.... kumira kumira Kuumia kuumia Tibiim...!? Falalala!
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Cde Monomotapa wrote:obiero wrote:mlennyma wrote:maka wrote:rwitre wrote:Getting more nasty and nasty"The squeeze Kenyans are going through as a result of slow economic growth and a strict regime governing access to credit due to the rate capping law has seen many of their properties going under the hammer as creditors move to redeem their money. On Monday alone, 27 advertisements across five pages ran in the Daily Nation, a signal of how bad the situation is getting. Among the properties belonging to loan defaulters that auctioneers are seeking to sell are prime residential houses, agricultural land and motor vehicles across several counties." Dynamic duo indeed.... kumira kumira Kuumia kuumia Tibiim...!? Falalala! Hehe.. Tumebebwa kimandazi
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Let's hope that 310MW of LTWP can part the Red Sea.
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Cde Monomotapa wrote:Let's hope that 310MW of LTWP can part the Red Sea. https://www.businessdail...7866-b05oauz/index.html
Kenya has postponed its plan to build Sh968 billion nuclear power plant by nine years to 2036 in favour renewable energy projects and coal plant. Updated power development plan prepared by the Ministry of Energy and covering the period 2017 to 2037, now show that the earliest the country can build the nuclear plant is 2036 and not 2027 as initially planned. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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When it rains it pours https://www.businessdail...88534-3s8b3iz/index.html
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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https://www.businessdail...88650-jwgyql/index.html
Official foreign exchange reserves fell by nearly Sh22 billion last month to stand at Sh851.36 billion ($8.436 billion) as of September 27 compared to the end of August. The reserves stood at Sh873.16 billion ($8.652 billion) at the end of August, equivalent to 5.76 months of import cover. The current official reserves cover 5.58 months of imports showing there has been significant decline in the cushion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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[quote=obiero]When it rains it pours https://www.businessdail...8534-3s8b3iz/index.html[/quote] Waah and KRA still expects to collect more revenue Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Next year's budget will be interesting, Jubilee will have to swallow their pride and present a reduced budget. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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https://www.standardmedi...-your-power-bill-by-70pcWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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